Asghabat ‘strives for’ multifaceted international cooperation

Turkmenistan, remaining dedicated to a policy of peace and neighborliness, and acting from the position of positive neutrality, is gradually activating its economic cooperation on a regional scale. As a confirmation of this we have a series of important initiatives which, put forward by the greatly esteemed President of Turkmenistan Gurbanguly Berdimuhamedov, first and foremost pertain to ensuring global energy security, solving the hydro-energy issue, as well as creating transcontinental transportation and communication corridors, the benefits of which will spread far beyond regional borders.

Addressing the 66th session of the UN General Assembly, the highly esteemed President of Turkmenistan Gurbanguly Berdimuhamedov especially noted that “An important issue now standing before the international community in this modern stage is the elaboration of effective mechanisms that will allow us to overcome the consequences of the financial and economic crisis and to determine the main direction of the development of the global economic system in perspective.”

‘Real macroeconomics’

The global economy has entered a period of growth of systemic risk and macroeconomic uncertainty. At the forefront are postulates of so-called “real macroeconomics,” focused on the productive forces of the economy and their optimal use. It becomes apparent that without major structural and institutional reforms that restores the competitive environment in the markets and factor of the productive markets, which promotes the productivity and introduce innovative models of regulation of whole complex of social and economic processes. At the same time, according to the opinion of most experts, the need for effective regulatory institutions is of a complex and multi-layered character. Such institutions should be established and / or strengthened at national, regional and international level.

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Turkmenistan is always striving for multifaceted cooperation with the countries of the region. As important strategic areas of cooperation, we see the development and diversification of the energy and transport infrastructure to connect the countries in the region.

The urgency of energy issues stems from the fact that Turkmenistan is one of the key countries in Central Asia and the Caspian basin with rich hydrocarbon resources.

Our country is implementing a number of large-scale projects. One of the most successful was the current Trans-Asian gas pipeline, by which the supply of Turkmen “blue fuel” to China is accomplished.We are actively expanding our presence in the markets of other fuel; an example of this is the increase in the volume of gas supplies to the newly completed Dovletabad-Sarahs-Hangeran pipeline to Iran. With the assistance of the Asian Development Bank, the participating countries accelerated the development of the project of the construction of the Turkmenistan-Afghanistan-Pakistan-India (TAPI). The parties agreed on the formation of the pipeline consortium and will step up efforts to find and choose the leader of the consortium.

We pay great attention to the international significance TAPI gas transmission pipeline, designed not only to provide a long-term supply of natural gas from Turkmenistan to power shortages in South Asia, but also a powerful incentive for peace and stability in the whole region.

*Rovshen Nuryagdyyev is the deputy finance minister of Turkmenistan.